Israeli Investment Firm To Manage At Least $50-M Under Three Crypto Funds

Nov 22, 2018 at 21:25

Silver Castle Ltd., Israel’s first crypto investment firm, expects to handle at least $50 million from its three crypto funds—two of which were launched this month.

In a report by Bloomberg, Silver Castle has been busy setting up a platform for nearly a year for the three planned crypto funds.

“We spent close to a year building robust infrastructure for managing other people’s money at the level of institutional grade with very, very high security,” company CEO Eli Mizroch said in the report.

The company said the first fund is based on an algorithmic trading system and gives investors short- and long-term exposure in the top five coins in terms of market capitalization.

Mizroch said the first fund, which has been used in-house for nearly a year, has booked “high double-digit” returns in dollar terms despite the dismal performance of the legacy Bitcoin this year.

The second fund, meanwhile, is invested wholly in the top 10 coins based on an algorithm.

On the other hand, the third fund that is token-based and invested in initial coin offerings (ICOs) will be launched by year-end, according to the Bloomberg report.